OAKLAND, CA, Aug. 8, 2016 (RISI) -The transcript of Minerals Technologies’ second quarter 2016 conference call on Aug. 5, 2016, with CEO Joseph Muscari, is now available at Seeking Alpha.
EXCERPT:Our focus on the opportunities for growth in China continues to bear fruit, as overall China sales were up 5%, while PCC sales were up 17%. For the half, China sales were actually up 9% over last year and as we have discussed in the past, we continue to see considerable room for further growth and development of our mineral-based businesses in China. We recently also formed a China lead team for the company to ensure that we execute on all of the opportunities available to us. And this multi disciplinary team will coordinates upward across all MTI operations and growth initiatives in China.
It's also worth highlighting for the first half that our Paper PCC Asia sales were up 7% and our operating income there was up 20% while productivity was also up 7% and the minerals business achieved a 10% return on capital and they have on an annualized basis. Further, in China, overall, mineral sales were up almost 12% with an 11% operating income increase.
And our partnership, MTI and Sun Paper are going to work together with Tsinghua University to pilot our new yield technology. Innovate ways to localize this technology to China, evaluate the results of the technology deployment, as well as recommend policy and regulatory actions and then move to assessing the steps necessary to drive change throughout the Chinese pulp and paper industry and Tsinghua by the way is one of China's leading universities.
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